The schoolboy, who already uses the internet to buy products for friends and make a profit selling them, told the Mail Online: "I think he thought that I was being rude by saying “hey”, but I was just saying “hello”.

'I was really excited to get a reply but then really disappointed with what it said.’

The tycoon has now reportedly blocked Rose, leaving the boy feeling "upset and ashamed and disappointed".

"For the person I have been admiring all my life to send me that reply is really upsetting. I still admire him and look up to him but I can't believe he replied like that.

"I think he's great - I've watched his documentaries and followed him on Dragons Den and in I'm A Celebrity Get Me Out Of Here.

"I just really like him - the way he has turned his life around and the way he's come up from his humble background. He was even in prison and look where he is now."

The resulting media coverage prompted Bannatyne to address the situation again on Monday, tweeting a picture of him kissing his girlfriend and adding:

A recent story sold about me will be exaggerated,twisted & not properly explained. Think what you like though if you will